HomeMarket NewsMicro Cap StocksInvestors Flip the Bird as Tharimmune Stock (THAR) Takes a Nosedive

Investors Flip the Bird as Tharimmune Stock (THAR) Takes a Nosedive

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  • The company priced an underwritten public offering late Monday.
  • The company plans to use the net proceeds primarily for advancing TH104’s phase 2 trial in 2024.

Tharimmune Inc THAR shares have plummeted by 71% to $1.00 this morning after the company priced an underwritten public offering of 10 million shares of common stock or pre-funded warrants at $1.00 per share, raking in $10 million in gross proceeds.

Tharimmune has thrown the underwriters an option to purchase an additional 1.5 million shares. The company’s primary objective for the net proceeds is to propel TH104’s phase 2 trial in 2024, in addition to general corporate purposes and potential investments.

The offering is expected to seal the deal on November 30, subject to standard closing conditions.

See Also: Why Is Liver Disease Focused Tharimmune Stock Trading Higher Monday?

According to data from Benzinga Pro, THAR has hit a 52-week high of $9.50 and a 52-week low of $0.95.


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